Political Economy, Ideology, and the Impact of Economics on the Third World

Political Economy, Ideology, and the Impact of Economics on the Third World

Synopsis

This work examines the practical impact of economics and economic ideology on the Third World. Gondwe argues that because economics is now being practiced under a scientific, technical veil, it is inadequate to deal with real-world problems since its assumptions and methods bias it toward intellectual games and away from practical social problems. He advises that economics should return to the political economy it was before it was reduced to a mere study of markets, and that the reintegration of economics into political economy should focus upon people, not wealth, as the subject and object of all economic activity.